Laura (morghon) wrote,
Laura
morghon

For first time home buyers

The new housing bill includes a first time buyer tax credit that is available through June 2009. It is a little complicated and is also available to those who have owned a home in the past but not within the last 3 years.

Couples can get up to $7500. One thing to be aware of is that it does have to be paid back over time. Basically the government is offering an interest free loan to first time home buyer or buyers re-entering the market after an absence of at least 3 years.

It could be very useful for some buyers. Here is the link to the government site about it: http://www.federalhousingtaxcredit.com/
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